A new Accenture report for the Eurelectric power sector association has predicted that an energy transition in Europe could save the region up to $110 billion in annual expenses by 2030.
Sander van Ginkel, utilities strategy managing director with Accenture, cited the lack of a unified energy market, the continued high cost of new energy tech and slow deployment of energy efficient systems as the main causes of high rates.
“Stakeholders from all sides have recognized the major impact of rising energy expenditure on Europe’s households and industry, and all share a sense of urgency about the issue, but we still see a considerable gap between awareness and action,” Ginkel said Monday.
The analysis suggests that optimization of renewable energy systems and a concerted push from all stakeholders—consumers, policymakers and industry—could help slow the upward trend, according to Ginkel.
“This could be achieved by aligning national support systems in the short term, while gradually exposing renewables to the electricity market… and allowing full target sharing for renewables across Europe,” Ginkel said.
The study combined Accenture modeling and analysis with literature research and expert input to examine current electricity and gas rates in eight countries—France, Germany, Italy, the Netherlands, Poland, Spain, Sweden and the United Kingdom.